Is Selling Valeant Pharmaceuticals Intl Inc Here a Winning Strategy? The Stock Just Gapped Down

 Is Selling Valeant Pharmaceuticals Intl Inc Here a Winning Strategy? The Stock Just Gapped Down

The stock of Valeant Pharmaceuticals Intl Inc (TSE:VRX) gapped down by $0.08 today and has $22.02 target or 4.00% below today’s $22.94 share price. The 5 months technical chart setup indicates high risk for the $7.62B company. The gap down was reported on Nov, 23 by Barchart.com. If the $22.02 price target is reached, the company will be worth $304.80M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 451,727 shares traded hands. Valeant Pharmaceuticals Intl Inc (TSE:VRX) has declined 43.43% since April 19, 2016 and is downtrending. It has underperformed by 48.76% the S&P500.

Valeant Pharmaceuticals Intl Inc (TSE:VRX) Ratings Coverage

Out of 3 analysts covering Valeant Pharmaceuticals International (TSE:VRX), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. $74 is the highest target while $17 is the lowest. The $31.33 average target is 36.57% above today’s ($22.94) stock price. Valeant Pharmaceuticals International has been the topic of 17 analyst reports since October 20, 2015 according to StockzIntelligence Inc. The rating was maintained by RBC Capital Markets on Wednesday, September 7 with “Sector Perform”. RBC Capital Markets maintained Valeant Pharmaceuticals Intl Inc (TSE:VRX) on Monday, June 27 with “Sector Perform” rating. TD Securities maintained Valeant Pharmaceuticals Intl Inc (TSE:VRX) rating on Wednesday, July 20. TD Securities has “Hold” rating and $38 price target. The firm has “Sector Perform” rating by RBC Capital Markets given on Tuesday, May 24. The company was maintained on Tuesday, January 26 by RBC Capital Markets. The stock of Valeant Pharmaceuticals Intl Inc (TSE:VRX) earned “Sector Perform” rating by RBC Capital Markets on Friday, June 3. The stock of Valeant Pharmaceuticals Intl Inc (TSE:VRX) has “Outperform” rating given on Tuesday, October 20 by RBC Capital Markets. The stock of Valeant Pharmaceuticals Intl Inc (TSE:VRX) has “Sector Perform” rating given on Monday, October 31 by RBC Capital Markets. RBC Capital Markets maintained it with “Sector Perform” rating and $46.50 target price in Tuesday, October 25 report. The stock of Valeant Pharmaceuticals Intl Inc (TSE:VRX) earned “Sector Perform” rating by RBC Capital Markets on Tuesday, September 20.

More notable recent Valeant Pharmaceuticals Intl Inc (TSE:VRX) news were published by: Fool.ca which released: “Will Canopy Growth Corp. Crash as Hard as Valeant Pharmaceuticals Intl Inc.?” on November 23, 2016, also Business.Financialpost.com with their article: “Valeant Pharmaceuticals International needs to do a lot more than just cry …” published on November 21, 2016, Fool.com published: “Why Valeant Pharmaceuticals Intl Inc Stock Is Slumping Today” on November 08, 2016. More interesting news about Valeant Pharmaceuticals Intl Inc (TSE:VRX) were released by: Profitconfidential.com and their article: “Valeant Pharmaceuticals Intl Inc: VRX Stock Rises Again” published on November 10, 2016 as well as Investorplace.com‘s news article titled: “Valeant Pharmaceuticals Intl Inc (VRX) Stock Owners Should Ask Tougher Questions” with publication date: November 15, 2016.

Valeant Pharmaceuticals International, Inc. is a pharmaceutical and medical device company. The company has a market cap of $7.62 billion. The Firm is engaged in developing and marketing a range of branded, generic and branded generic pharmaceuticals, over-the-counter products, and medical devices (contact lenses, intraocular lenses, ophthalmic surgical equipment, and aesthetics devices). It currently has negative earnings. It operates through two divisions: Developed markets and Emerging markets.

VRX.TO Company Profile

Valeant Pharmaceuticals International, Inc., incorporated on August 9, 2013, is a specialty pharmaceutical and medical device company. The Firm is engaged in developing, manufacturing, and marketing a range of branded, generic and branded generic pharmaceuticals, over-the-counter (OTC) products, and medical devices (contact lenses, intraocular lenses, ophthalmic surgical equipment and aesthetics devices), which are marketed directly or indirectly in over 100 countries. The Firm operates through two divisions: Developed markets and Emerging markets. In the Developed Markets segment, it focuses on the areas of dermatology, neurology, gastrointestinal (GI) disorders, and eye health therapeutic classes. In the Emerging Markets segment, it focuses primarily on branded generics, OTC products and medical devices.

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